Welcome to our dedicated page for Quantum news (Ticker: QMCO), a resource for investors and traders seeking the latest updates and insights on Quantum stock.
Quantum Corporation reports developments in data management systems and software for unstructured data used in AI, media, government, research, life sciences, and industrial technology workflows. Its news commonly covers high-performance ingest, object storage, cold storage, tape libraries, data lakes, media asset management, and workflow orchestration across products such as ActiveScale, CatDV, Scalar, and StorNext.
Company updates also address customer deployments, technology integrations, partner certifications, archive and cyber-resilience use cases, quarterly financial results, operating efficiency initiatives, investor conference participation, and executive or finance organization changes.
Quantum Corp. (Nasdaq: QMCO) announced a public offering of its common stock aimed at repaying a portion of its senior secured term loan. The share offering is underwritten and subject to market conditions, with no assurance of completion or specific terms. B. Riley Securities and Oppenheimer & Co. are the lead managers for the offering. A previously filed shelf registration statement became effective on December 9, 2020. The company emphasizes that this press release does not constitute an offer to sell these securities in jurisdictions where it would be unlawful.
Quantum Corp. (NASDAQ: QMCO) announced the adoption of the 2021 Inducement Plan, effective February 1, 2021. This plan allows for granting equity awards to new employees as a recruitment incentive. The company granted a total of 320,000 restricted stock awards (RSUs) to eight new hires, with a three-year vesting schedule. Additionally, three employees received 200,000 performance stock awards (PSUs) that will vest based on performance criteria over five years. Quantum's technology aids in managing unstructured data, serving various industries.
Quantum Corporation (NASDAQ: QMCO) reported fiscal Q3 2021 results, achieving revenue of $98.0 million, a 14% sequential increase, exceeding guidance of $91-95 million. The gross margin was 43.1%, with a GAAP net loss of $2.7 million or ($0.07) per share. Notably, non-GAAP adjusted net income reached $0.01 million, showing improvement over the previous quarter. The company also introduced new products and acquired Square Box Systems, enhancing software offerings. For Q4, Quantum expects revenues of approximately $98 million with breakeven net income.
Quantum Corp (NASDAQ: QMCO) announced the launch of its new H2000 Series hybrid storage arrays, enhancing performance and scalability for data-intensive workflows. These systems utilize both SSD and HDD technologies, optimizing cost and effectiveness for various business applications. The H2000 Series integrates seamlessly with Quantum's StorNext File System, improving productivity for users. This launch follows Quantum's subscription-based software strategy announced in November 2020, reinforcing its commitment to delivering cutting-edge solutions for unstructured data management.
Quantum Corporation (NASDAQ: QMCO) will release its financial results for the third fiscal quarter ended December 31, 2020, on January 27, 2021, after market close. CEO Jamie Lerner and CFO Mike Dodson will discuss the results in a conference call at 4:30 p.m. ET. Analysts and investors can join using the provided dial-in numbers or via webcast. A replay will be available for two hours post-call and accessible until February 3. Quantum, known for its data capture and preservation solutions, was added to the Russell 2000® Index in 2020.
Quantum Corp. (NASDAQ: QMCO) has joined the DNA Data Storage Alliance, aiming to enhance the future of DNA data storage. This partnership supports the development of a commercial archival storage system, crucial for managing the escalating volumes of digital data. Quantum, renowned for its vast digital archives, believes DNA storage can provide a stable and durable format for data preservation, with estimates suggesting that by 2024, 30% of digital businesses will require DNA storage trials. The alliance seeks to promote awareness and adoption of this innovative technology.
Quantum Corporation (NASDAQ: QMCO) announced its participation at the 23rd Annual Needham Growth Conference on January 13-14, 2021. Both Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO, will represent the company at this virtual event. Portfolio managers and analysts interested in meetings with management can contact conferences@needhamco.com. Quantum specializes in technology and services that help customers manage digital content, enhancing performance for sectors including entertainment and cloud services.
On January 4, 2021, Quantum Corp (NASDAQ: QMCO) announced Rick Valentine as Senior Vice President & Chief Customer Officer. Valentine, a customer experience veteran with over 35 years in technology, will enhance Quantum's support as it shifts towards an as-a-service model for unstructured data management. His experience includes a pivotal role in Silver Peak's customer success, leading to its $925 million acquisition by Hewlett Packard Enterprise in 2020. This move aligns with Quantum's goal to improve customer experiences amidst its transition to software-defined architectures.
Quantum Corp (NASDAQ: QMCO) has announced the appointment of Brian Pawlowski as Chief Development Officer, enhancing its leadership team to boost software-defined infrastructure and global growth. With over 35 years in tech, Pawlowski aims to drive software innovation and address customer needs, focusing on hybrid multi-cloud solutions. Quantum also established a new Cloud Software & Analytics unit led by Dave Clack, following its acquisition of Square Box Systems. Additionally, Jim Simon has been appointed to lead operations in Malaysia, aiming to strengthen Quantum's presence in the Asia Pacific region.
Quantum Corp (NASDAQ: QMCO) announced the acquisition of Square Box Systems Ltd, enhancing its data management portfolio. This acquisition brings CatDV, a media management platform that employs AI and ML for better digital asset organization. Square Box has seen over 20% growth in the past year with over 1,500 deployments globally. The deal is expected to be accretive to Quantum's business operations, offering new market opportunities, particularly for small media workgroups. Quantum aims to integrate CatDV with its existing solutions to better serve diverse customers.